LED Horticulture Lighting Continues to Grow at a 5-Year CAGR of 20.61%*

Press Release

LED Horticulture Lighting Continues to Grow at a 5-Year CAGR of 20.61%*

Fueling an Illumitex record-booking quarter and global sales and marketing team expansion.

AUSTIN, TX, November 30, 2018 – Illumitex announced today the largest booking quarter since the company’s founding in 2005., Illumitex is definitely capitalizing on the significant growth – from USD $2.43B in 2018 to an estimated USD $6.1B in 2023* – of the horticulture lighting market. The company’s record quarter demonstrates its LED product performance and quality as well as its vision for the digital horticultural future.

“This market growth is being driven, for the most part, by the transition from wasteful High Pressure Sodium (HPS) lighting to energy-, space- and cost-saving LEDs”, said John Spencer, chief commercial officer and executive vice president . “In addition, there is a dramatic increase in indoor growing across all vegetation and a well-known acceleration for Cannabis grows worldwide. The Illumitex product portfolio of both NeoPAR™ and HarvestEdge® LED lighting solutions more than meet the requirements of these vertical and greenhouse grow initiatives with proven benefits and results.”

Given these record bookings, Illumitex was able to invest in expanding its global sales and marketing teams with the addition of two key members. Michael Ferguson, the new Sales Manager for Illumitex Canada, brings vast and proven experience in horticultural lighting from companies such as Eaton Corp., 3M, Reflexite and PL Light Systems, a solid knowledge of the Canadian market and an Economic & Business Degree from Wilfrid Laurier University. The new Marketing Director, Christine Ackley, has an MBA in Marketing as well as 25+ years of experience in successfully helping companies – both startups and Fortune 500 – build brand and generate marketing-attributed leads, conversions and revenue.

The growth Illumitex has been able to achieve, both from a revenue and team standpoint, only further demonstrates the company’s current and future commitment to the advancement of horticultural lighting and digital technology.

About Illumitex, Inc.

With a more than a decade of experience in both LED lighting and horticultural science, an absolute dedication to quality and performance, and solid support for the success of every customer, grow and crop – Illumitex, Inc. is the optimum partner for your greenhouse, vertical farm or any indoor grow initiative. Collaborative, agile and scalable, we can design, produce, deliver and support exactly the right solution for your unique environment and objectives. We are taking horticulture lighting and technology to the next level to improve efficiencies, crop quality, management and analytics, profitability and more.

Contact us to see how.

www.illumitex.com
www.illumitex.ca

Media Contact
Christine Ackley
512.279.5032
marketing@illumitex.com

*Source: Cision, PR Newswire, September 24, 2018